use. lori: our guest is our know a thing or two about expensive homes. on the health of the luxury housing market. let's get things started with a market check. the floor of the new york stock exchange and lauren simonetti. all three major markets are moving higher this afternoon. lauren: very tight trading. we are an hour away from the meeting minutes at the federal reserve. in the meantime, up arrows across the board. the nasdaq and the s&p 500 are reversing two straight days of losses. this is an interesting stock, the number one loser this year on the s&p 500 down more than 50% but it is the number one winner today despite a wider than expected loss. it seems investors are thinking november is a good month so far

for that retailer and they are getting optimistic about the holiday season. lori: thank you. adam: hopefully somebody is optimistic. some bad news may be coming. management trouble have abercrombie and fitch worried about losing their spot in the s&p 500. according to a report, the shares are taking a hit over the last year. jcpenney shares lost half of their value. indexes looking to make room for a spi spinoff starting to trade november 2. lori: shares of deere on an upbeat. expecting construction sales to surge things to the housing recovery and said that will help offset weakness in agriculture struggling. soft commodity prices leads them to cut spending.

adam: the message the fed is still pushing to the market. federal reserve chairman ben bernanke hinting near zero rates even after unemployment rate falls below 6.5%. my next guest says the fed is nowhere near raising rates and shouldn't even be thinking about tapering. joining us right now to discuss all of this. congratulations, you said we would hit dow 16,000. you think we will before the weekend is out? >> it is a crapshoot, as you know. we will close above 16,000 this week. adam: here is what is disturbing me. you say we had to have another recession for this market or this economy to really gain traction. can you explain to me why that is necessary? >> financial crises like we had in 2007, '08, 09 have been seen

in many countries. there is a very typical pattern they follow. after financial crisis you have a post financial crisis recovery. usually a big recession and a small recession, some sort of a return to normalcy. the big recession in the past 30 09. waiting for one more recession. a mild recession but the other side of the next recession i think we get back too much better, lower unemployment, much more normal behavior from the fed. adam: we have some sort of a correction before that recession, during that recession or could it be a gigantic correction over 20% should the

fed mess things up and bring about that recession? >> the answer is yes to everything you said. the sentiment in the market now is at rally killing levels. the market is in dire need of a pullback. recharge the engine of the bull market. if we don't get that pullback, i think you will get early in '1410, 15, 18% correction. still keeping the bull market alive, but if the fed tapers to sin and to great i think it does send us off into a much bigger bear market move in stocks of 20 to 30%. we are talking way down the road, not right now.

adam: first, your thesis, a recession and a second recession, after you have a financial collapse to manage to live through 2008, don't you have to have deflation? that is what resets everything. we did not get that. >> we have had deflationary in the economy since 2008. the biggest deflationary source in the world. we did have some already. it wasn't to the magnitude we see in japan now and it certainly wasn't the magnitude we saw during the great depression. we did have some deflation. the fed is doing everything they can to engineer inflation rates now. look at what home prices did in '08, '09. the first year-over-year decline ever. it is going like that.

unemployment is deflationary. you have a lot of things you don't have like in the 30s or in japan, but half a decade late. only six months late, i give him a ton of credit because had he not responded that would have had an outright depression. adam: on that note i'm going to say thank you, i would love to continue it, we will have you back on very soon. >> thank you, adam. lori: oil supplies rose less than expected last week. phil flynn on the trading pits of the cme. much larger than expected decline. phil: you bet there was be at the prices turned lower prices. it is incredible. you can see in this report low oil prices having on the economy. what came out of this report is we have seen the strongest

demand of oil since the financial crisis began. since august of 2008. that is an incredible number. you saw the big draw down, the gasoline demand really, really strong. why is demand strong? the prices have come down, consumers are spending more money and we're using more gas. definitely bounce when heating oil up by four. oil despite the boys demand is actually pretty flat, so it is a pretty good number. lori: have we seen a price stabilization? >> i think we're getting close to it. despite the fact that we saw the strongest demand since 2008, oil inventories in oklahoma where we count rose, so bring on demand.

lori: thank you. adam: in $19 million settlement the consumer finance and the m n bureau. a $5 million in refunds here to consumers. cash america, this is a quote, robo signed court documents and debt collection lawsuits shares near the low of the day. the s&p gaining 123% in five years. what stock is up more than 1800%. lori: everybody's looking forward to thanksgiving. answering the call when celebrities come knocking. power couple and realtors to the stars on luxury housing market.

adam: defeating two of the best human champs in the industry. lori: we will talk about watson. what it is taking on now and how you can get in on the action. [ male announcer ] once, there was a man who found a magic seashell. it told him what was happening on the tradg floor in real time. ♪ the shell brought him great fame. ♪ but then, one day, he noticed that everybody could have a magic seashell. [ indistinct talking ] [ male announcer ] right there in their trading platform. ♪ [ indistinct talking continues ] [ male announcer ] so the magic shell

went back to being a...shell. get live squawks right in your trading platform with think or swim from td ameritrade.

adam: ibm supercomputer watson will soon do much more than defeat human beings on jeopardy. ibm is opening to third-party developers giving them access to it via the cloud. the vice president of watson solutions joins us now from austin, texas. an honor to have you here. one of the most powerful computers. on the entire planet. what it is doing is revolutionary. there is one statistic, watson can diagnose cancer correctly 90% of the time when human doctors only do it 50% of the time. how do you allow developers into create even better opportunities with this computer?

>> we are really excited about the seismic shift we see taking place in how applications developed, but how they develop and solve. letting watson be available to entrepreneurs and obligation developers will really help accelerate that shift. adam: give me a sense of how it could be used a year, two years from now and how it might even change my life. i used the diagnosis example which is really remarkable. this computer is not just input, output, it is comprehending, am i correct? data you put in and is it thinking about the possible outcomes? >> watson is what the next era of computers will be. cognitive computing. think about how you and i look. we read things, learn about new subjects and take practice tests on it to learn. in medicine, we have watson read a tremendous amount of medical literature and material and

study so it can help doctors. think about the problems you and i face every day that make ourselves worked really hard because computers cannot help us. if i want to go on vacation with my wife would rather say i would like to go i romantic vacation in february someplace wanted use my airline miles. right now we know how to book a flight, book a hotel, but can you imagine having a system answer questions like that or say i want to go on a hike and it will let you know what to do. a whole different type of problem we have not been able to do before. adam: walked me through how a developer watching right now will be able to access watson and create something i is a consumer will be able to use and what it is really about is how you make money, how will you get money out of my wallet? >> they key is to make sure watson is something the whole industry will build on. for us we knew we would not have the greatest ideas. we were putting watson in the

crowd. -- cloud. they can give you all the information you need to figure out how to sign up and get early access. developers will have access through the cloud and can build right into their engineer apps. adam: you were quoted in an article saying you do not program it at all. i give it practice tests and i score it and watson figures it out on its own how to learn from its mistakes. i ask you this question in all seriousness, this computer is not feeling, but what keeps this computer from learning how to perhaps deceive or to lie, let me use the terminology of terminator, become skynet. >> watson systems are not programmed comedies like how to help my hope my kids with homework and to create any program in the past. i feed it expert insight and i let it learn with it.

the programmers in the future will not be so much programmers as they will be teachers. adam: but kids never do the outcome you expect. how do you know the outcome of this computer won't be something that we just cannot even imagine? i don't necessarily mean negative. you were on the verge of something explosive and revolutionary with computers here. >> i think we're at the very beginning of what will be a long chapter in the evolution of computers. right now what we focus on training with experts and expert knowledge. we are not grabbing every bit of information on the internet, some could be good, some could be bad. we trained with the best who are out there, we train with the best on expert knowledge to make sure it is learning the right habit. adam: this computer can process 1 billion books of data and information from 1 billion books.

are we talking about a thinking machine, is it thinking in the way human being things? >> one of the things we had to evolve opening it up to the ecosystem to let others use it is it is no longer one machine. it is now a cloud of systems i can scale my growth for the smallest developers can get started with it and solve the biggest problems out there. it learns by going through practice, teaching, going through homework assignments and when you tell it how it did it goes back and figures out differently. it is the right way to approach problems goo. adam: developers cannot access watson through the clouds. thank you. this is remarkable. hank you for joining us on fox business. >> thank you. lori: watson is totally going rogue.

and watson is totally going on that honeymoon. ibm. very clever. you have heard similarity where one computer brain is going to do all the thinking and take over all of humanity. let's check the market, w where joined at the new york stock exchange, lauren is looking at one stock hitting an all-time high today. lauren: take a look at the today chart, you can see it is up% toy, a-timhigh pusng $10 pe sare. goldn sas add priline and ve tm $10 pre targ. eest cht ishe fe-ye char at iall u ne to kw. up 1800% in five years.

back to you. lori: thank you. adam: the fate of obamacare in the hands of state insurance commissioners, will they go along with president obama's proposed cancellation fix? detail the head of the at the white house. lori: it was the dueling dinosaur auction. we will tell you what happens when two dinosaur skeletons hit the auction block in new york. ♪

(train horn) vo: wherever our trains go, the economy comes to life. norfolk southern. one line, infinite possibilities.

>> 22 minutes past the hour, this is your fox news minute. president obama paid tribute to john f. kennedy with the gravesite at arlington national cemetery in virginia. president clinton and first lady michelle obama and hillary rodham clinton the eternal flame marking the final resting place. the 50th anniversary of the assassination is on friday. the state of missouri has executed a service man who killed over a three-year rampage. he said he targeted blacks and jewish. he was convicted of hate murders

but put to death for killing a man outside of suburban st. louis synagogue. florida congressmen has been sentenced to one year probation after pleading guilty to a misdemeanor charge of cocaine possession. was charged with allegedly buying cocaine in the presence of an undercover officer last month. those are your news headlines on the fox business network. adam: thank you very much. president obama meeting with state insurance commissioners trying to push his fix for americans dealing with canceled health insurance plans. rich edson in washington, d.c., with the latest. how is that going? >> if he needs the state insurance commissioner to sign off allowing insurance companies to reissue the plans for a phased out largely because of obamacare. right now states are split on whether or not to allow insurance companies to do so.

indiana joining a list of several other states who are not alone the president to change including in massachusetts, mississippi, a few other states including 10 states who will allow insurance companies including colorado, north carolina, oregon and texas. that continues at the white house at 4:00 today. as a group have said it is very difficult and will take years to phase out. insurance company allowed them to phase them in over a matter of months. it could be even more expensive. this is from yesterday. down in florida, in miami an event to try and get people signed up on obamacare. a cbs affiliate picked up video of her witnessing the website crashing for a couple of times. cbs says only two people were able to get health insurance.

we have yet to receive a response on why that is true. seeing firsthand how the website continues to crash. the administration has it out and running at the end of this month for the metric is filled with lots of questions as to how many people will actually be able to access that site. back to you. adam: simply put, don't hold your breath. lori: we learned earlier today fewer americans bought previously owned homes last month. it reported existing home sales declined by 3.2% in october to slowest sales pace since june. charles payne says forget about that number. charles: we are here now. i know you still have it.

here is the thing. there was a company mostly in the south, they do asphalt, business through the roof. a lot of these other businesses through the roof. la-z-boy to me maybe the stock of the boy. real numbers underground, not the surveys, not that stuff. this stock, it is not just one of these trades you can do now. give an example over the last five years they grew 8%. over the next five years growth of 7% each time out. adam: either way you can win with this. >> painting, plumbing, delta faucets, insulation business,

operate margins expanded, cap next business is up, margin expanding and a lot of room to grow. lori: construction materials along with gas stations. i am a data person. charles: i look to the people filling this stuff on the ground. i'm not as trusting of the government stuff. lori: you have made a platform out of that. adam: speaking of money, how about a preholiday financial advice from dave ramsey? they will be our special guest tomorrow at 1:00 p.m. eastern, do not miss this. ready to answer your questions. at fox business, he will answer them on air during the 1:00 p.m. hour.

this story is not for anybody pitching pennies. your first look at jaguar $100,000 ride at the l.a. auto show with the new take on it. it fits in. from a hot ride the red-hot luxury real estate market. all appliance. tdd#: 1-800-345-2550 trading inspires your life. tdd#: 1-800-345-2550 life inspireyour trading. tdd#: 1-800-345-2550 where others see fads... tdd#: 1-800-345-2550 ...you see opportunities.

tdd#: 1-800-345-2550 at schwab, we're here to help tdd#: 1-800-345-2550 turn inspiration into action. tdd#: 1-800-345-2550 we have intuitive platforms tdd#: 1-800-345-2550 to help you discover what's trending. tdd#: 1-800-345-2550 and seasoned market experts to help sharpen your instincts. tdd#: 1-800-345-2550 so you can take charge tdd#: 1-800-345-2550 of your trading. and this park is the inside of your body. see the ecial psylliumiber in metamucil actually gels to trap some carb to help maintain healthy blood sugar levels. metucil. 3 amazing benefits in 1 super fiber.

3 amazing benefits [announcer] ...every wish for a bed that could feel perfect under every part of your body... [man]ask me about our tempur-pedic. [announcer] they're sleeping on the newest tempur-pedic bed... the new tempur choice... [man]two remotes. [announcer] firmness settings for the head,legs,and back...

these real owners get that famous tempur-pedic comfort how they like it. [woman]ask me about the lumbar button. [man]lumbar button [woman]lumbar [announcer] tempur-pedic.the most highly recommended bed in america. now the fun begins! ♪ ♪ no two people have the same financial goals. pnc works with you to understand yours and help plan for your retirement. visit a branch or call now for your personal retirement review. adam: time to check stocks. we'll head back to the floor of the new york stock exchange. lauren simonetti is there and she is taking a look at some do

it yourself stocks. lauren? >> absolutely. despite the fact that fewer americans bought existing homes last month they're fixing their homes. lowe's, this is the second biggest loser on the s&p 500. profits were fine. issue, lowe's didn't do what home depot did yesterday. they didn't up their guidance for the full year. in home depot's case it was for the second time. they raised outlook but not as much as wall street wanted. it wasn't a terrible report. it wasn't as good as a lot of people wanted it to be. back to you. lori: lauren, thanks so much for that. the housing market may be slowing down for the average american but the luxury market is apparently on fire catering to a-list celebs like jessica simpson and scher. they call a conerge busiss f the sta. th areofouers,

propatelitle wliam and romita, part of the real estate group, williams and high land. welcome to both of you. >> thank you so much. lori: you probably heard heard government data on existing home sales, down for the 7th straight month, in the latest month in october. why do you i think the luxury market is so much the outperformer these days? >> well, i think first of all, we're inngeles and i think the luxury market really the people that can afford it want tangible assets and they want stuff they will be able to enjoy like art, homes and if you look at the hit of real estate and just go back 10 years, 20 years, 30 years, homes always in real estate always go up. it's a great asset and i think real estate's a real winner. plus you get to enjoy it at the same time. lori: absolutely. so i think it is safe to say when the government says existing home sales down over 3% because people are concerned about rising interest rates your

clientele is not necessarily as interested or as concerned with interest rates or getting a mortgage overall, correct? tell me about your clients. >> i think that's about right. we have the, the high-end is mostly driven by cash buyers. right now there is a lot of creative financing. there are loans available and interest rates are still historically-speaking very low. so there are loans, like i said, creative loans, all sorts of things. if you have a deposit and meet the criteria, you can get a loan whether you're a first-time buyer or upper end we're seeing a lot of people that have the cash to buy, close it out cash, just to be competitive and they will go back and take a loan because money is so cheap and they can get the 3% interest rate. lori: talk about this creative financing. in reading up on you guys and your business you have buyers that will put a down payment of $10 million and finance a additional $10 million to purchase a $28 million property. tell me how the financing structure works out, brandon.

>> it happens all the time. so this is not, a lot of our clients right now that have a lot of money know that they can get really, really cheap interest rates if it is just a five-year, let's say fixed at 3%, and they know they can put down half the money, with the other half of the money they can make investment that is are really going to grow and not have it all locked up with the $20 million. so we have a lot of clients doing this. lori: quickly i understand that you guys serve the hollywood market and that in of itself has to be so competitive, buying for celebrity clientele. what do you think sets you guys apart? >> what we were referring to when we said we run a concierge real estate service is basically brandon being a native, i've been in los angeles almost 14 years, we are dialed in so that our clients come here, even if they're international, or different states wherever they come from, we can sort of taylor make them, a program for

los angeles, from architect to the interior designer, tickets to laker games, whatever they need. lori: sound great. what a life. you two are the envy of many in the real estate industry and beyond. they are engaged from what i understand. congratulations on that front as well. >> thank you. >> thank you. lori: take care. adam. adam: thank you very much, lori. it's a big day for jefferson county alabama. a court hearing is underway whether it can exit bankruptcy by the end of this year. jefferson county became the first municipality to issue debt while still bankrupt. in the past week it sold $1.8 billion in bonds. many consider this a test whether places with weak finances, pick any municipality you want across the country, can still sell debt to investors. until now most believed bankrupt municipalities would lose access to the market for a long time. until detroit, jefferson county was the largest u.s. bankruptcy in history.

lori? >> a stock alert. shares of philip morris international. shares are down 3% on word that they will enter the e zig market. the electronic cigarette markets, introduce ecigs over here not in the u.s. philip morris are down 2%. what if dinosaurs dulled and nobody cared? the disappointing show. adam: herbalife wants to tell the company how to deal with bill ackman. fox business senior correspondent charlie gasparino will be here with the exclusive scoop next. ♪ she's always been able to brighten your day.

it's just her way. but your erectile dysfunction - that could be a question of blood flow. cialis tadalafil for daily use helps you be ready anytime the moment's right. you can be more confident in your ability to be ready. and the same cialis is the only daily ed tablet approved to treat ed and symptoms of bph, like needing to go frequently or urgently. tell your doctor about all your medical conditions and medications, and ask if your heart is healthy enough for sexual activity. do not take cialis if you take nitrates for chest pain, as this may cause an unsafe drop in blood pressure. do not drink alcohol in excess with cialis. side effects may include headache, upset stomach, delayed backache or muscle ache.

to avoid long-term injury, seek immediate medical help for an erection lasting more than four hours. if you have any sudden decrease or loss in hearing or vision, or if you have any allergic reactions such as rash, hives, swelling of the lips, tongue or throat, or difficulty breathing or swallowing, stop taking cialis and get medical help right away. ask your doctor about cialis for daily use and a 30-tablet free trial. >> i'm dennis kneale with your fox business brief. retail sales rose in october by .4 of a percent, the biggest gain in four months. economists were looking for sales to be up just .1 from september. taking out the auto component, sales were up .2, better than estimates. mcdonald's says it launch the mcrib sandwich nationally in coming weeks. that is change when the pork sandwich is added to menu.

restaurant employees have struggled to keep up with several new menu items. businesses increased their stockpiles of inventory in september by .6 of a percent. the commerce department says that the is largest increase since january. august inventory increases up .4 of a percent. that is the latest from fox biz, giving you the power to prosper.

adam: check this out. is post holding ceo the biggest investor to take herbalife private? charlie gasparino has details on a possible takeover battle that could be bad news for short seller bill ackman. he joins us right now, the miss germany was not happy with you. >> miss germany bit me. i'm kidding. adam: what is going on with herbalife. >> what is going on with herbalife, ackman will give a

speech at robin hood conference, unveil new information, new theoretically negative information. he is a short seller. he is betting it will go down. behind the scenes there are still that like the stock. george soros likes it. this guy bill stair ritz a long time investor. we don't talk about him, a very sophisticated investor. upped his stake to 6.4%. he has been around a little bit. he looks like a serial guy anyway? lori: you're the one with blood on you. >> calm down. speculation on the street, speculation he is approaching other investors. he loves the company. i know for a fact that he loves the company through other sources. he would love to own the company, there is no doubt about that i know that what we hear and stir ritz has not called us back and potentially approaching other investors to take it right private what are the other

investors? one name i've heard and not confirmed but throwing the out there and this is good, just sis gossip. adam: this moves the street sometimes. >> the singapore sovereign wealth fund tomasek. during the financial crisis they took a stake in merrill lynch. they are pretty active. interesting guy there used to work as number two guy to ken lewis at bank of america. greg curl. president of new york holdings. this is interesting play if they're involved with them. they clearly have the money to do it. adam: going private you remove the regulatory issues. >> and you destroy the shorts. adam: destroy the shorts. carl icahn, wouldn't it be interesting to see how he is reacting? >> i will tell you this i have not spoken with carl about this in particular. i will tell you this like most people that are in the stock, they think herbalife if you look at the numbers are actually cheap. this should be a $100 stock. lori: how is the business?

tug-of-war between rifles for fundamentals of company. >> fundamentals of company, listen, whatever they do, they're doing it well. they make a lot of money. and you know, there's a lot, there's a lot of people, listen i never been convinced about their product. i don't like their product. i tasted it a couple times. doesn't do anything for me and people buy it and it is produced. if you look at the numbers, this company makes a lot of money. you think about it, if they make this much money, a lot of people talking this should be a $100 stock. if it is $100 stock and he puts together an lbo with other people and sell it at 15% premium from where it is now, guess what? they can do that deal. lori: what with ackman and short position? >> less and less people. lori: there are fewer people? >> i'm sorry. adam: how much, honestly do we know how much ackman stands to lose if this thing goes south? >> lost hundred of millions

already. adam: not just that. >> the mother of short squeezes if this goes lbo. we should point out ackman is not going away friday quietly. friday he cams out at the robin hood conference. will came out with whistle-blower complaints and herb a lives international problems. they don't have this overseas, they're not the juggernaut overseas they proclaim to be. we'll see what he says. i will say this. if the whistle-blower complaints were that serious they would be shutting it down. he wouldn't be talking it. adam: especially this administration. >> the ftc and they are not going to shut it down. why won't they shut it down? they produce a product. they employ people. until the whole thing implode they will not get involved. so ackman in many ways whether he is right or not, i'm not saying he is right or wrong he is, he has got an issue here. they're not going to shut it down. if they don't shut it down and keep the business model going for another three years, this stock is going up.

he's done. >> charlie, thank you. >> just using common sense here. anyway tomask. spirits. speculation, they have not confirmed it yet. lori: thanks, charlie. see you soon. >> all right. >> as we do every 15 let's check the markets, this time with keith list joining us from the floor of the stock exchange. retail sales are helping lift the new york stock exchange. we have weakness in gas station sales obviously with lower fuel prices and also building materials were soft. not across the board strong report. do you agree with that? >> yeah i do. we'll see reports. we have seen them this earnings season you get good news sprinkled in with bad news or not so good news in there. the earnings season by and large has been an upward surprise for most people. it wasn't fall off the world pathetic but if you look at top-line sales growth is starting to wane in a lost the

sectors. one of the things really surprising if you look at when alcoa first reported on october 8th, s&p 500 is up over 8%. the market hasn't certainly disliked this earnings season and will not set the world on fire. as we get to the end of this earnings season some of the reports will be on same lines, good news, bad news story mingled in. lori: keith bliss, thank you as always. >> my pleasure. lori: we're less than 15 minutes away from the fed minutes at 2:00 p.m. eastern. we'll bring it to you hire on fox business. adam: if it ain't broke, why fix it? lori: you know how the saying goes. land rover ceo is up next as they have the take on the new best-selling s-type. adam: it is called the one of sexiest sportscaster in decades. jeff flock with the best assignment of the day. that is gorgeous. ♪ e toaster cozy?

yep. got all the cozies. [ grandma ] with n fedex one rate, i could ll a box and ship it r one flat rate. so i kn untilt was full. you'd be crazy not to. is tt nana? [ male announcer ] fedex one rate. simple, flat rate shipping with the reliability of fedex. [ male announcer ] fedex one rate. maestro of project management. baron of the build-out. you need a permit... to be this awesome. and you...rent from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. (aaron) purrrft. (vo) meee-ow, business pro. meee-ow. go national. go like a pro. pop in the drum of any machine... ♪ ...to wash any size load. it dissolves in any temperature, even cold. tideod pop in. stand out.

adam: the jaguar f-type convertible has been called by lori, car porn. that's a compliment. one of the sexiest sportscaster in decades. jaguar is hoping to entice auto lovers with hard top model. jeff flock live at the l.a. auto show with a first on fox look at this incredibltunning vehicle, jeff. >> you are looking at first live pictures ever of the jaguar f-type. you call it coupe. whatever you call it is beautiful. >> whatever you call it, it is beautiful. it is stunning design. if you see the lines, if you see the power but it drives better than it looks. >> the f-type convertible has

been such a tremendous success. if we come over, hey, tom, walk me over here with the camera, i want to show them the convertible. a lot of people love this convertible. some people start making hard top and go to the convertible. you started with the convertible. >> yes, we tried to do it in a different way into more difficult things earlier. nevertheless, no, it is a stunning car and in sunny california, driving open is a special experience. >> i gotcha. i want to walk over to land rover also, you're the ceo both of jaguar and land rover. jaguar sales are up 117%, more than double last month. up 36, 37% for the year. you've been outstripping all the rivals. what am i looking at right here at land rover? >> that is all new, all aluminum range rover with a long wheelbase. that long wheelbase gives you more space and room aniness. >> if your land rover, range

rover was not big enough and couldn't get in a parking space before, maybe, but maybe you can put an entire football team back here. how much longer is it? >> it is 189 more millimeters in the rear leg roop. that means you have opportunity to be sit with far more space, you've got more room. by the way you can slide seats in better way, so that you can sleep in better way even in the car. >> can live in this car. >> can live in it. [inaudible] >> beautiful. >> two refrigerations in. refrigerators are in. you have a cool glass of whatever you like. >> a cool glass. a hot car. land rover, jaguar at the show. unveil at the show. first on fox, folks. >> jeff, hanukkah and christmas are coming. f-type. just saying, if you want to put one in the stocking wouldn't say no. looks beautiful. thank you, jeff flock.

>> in the stocking. lori: one sexy car, that's for sure. all right an auction went the way of the dinosaurs you might say. two fossilized dinosaur skeletons known as dueling dinosaurs failed to sell at auction last night. the two dinosaurs were locked in battle. estimated to sell between 7 and $9 million. auction officials hope a private individual would come forward as a buyer and donate the piece to moo see yum, since most museums can not afford the high price tag. highest bid was 5.5 million, falling short of bonham's reserve. they're still hoping to find a buyer. we had the archeologist on set. adam: what would you say, only five million? lori: that's an understatement. listening in on fed chief ben bernanke, janet yellen and the fed. we're moments away from the release of those all-important fed minutes. will they move the market?

jcpenney posting down right horrible earnings. will they survive after christmas? tweet us and your responses are coming up. ashley webster and cheryl casone take you through the next hour of markets now. [ male announcer ] need help keeping your digestive balance in sync?

try align. it's the number one ge recommended probiotic that helps maintain digestive balance. ♪ stay in the groove with align. ♪ sometimes they just drop in. always obvious. cme group can help you navigate risks and capture opportunities. we enable you to reach global markets

and drive forward with broader possibilities. cme group: how the world advances.

cheryl: hello, i'm cheryl casone. ashley: i'm ashley webster. listeningening in on fed chief n bernanke and successor janet yellen. we're moments away from the release of all-important minutes from the fed's last meeting. was there new talk of tapering? people want to know. cheryl: jcpenney posting down right horrible earnings this morning. our twitter question, will penney's survive after christmas? we'll have an analyst coming up. ashley: less than 24 hours he sat down with an exclusive interview with president obama. he is here to talk to us, washington bureau chief jerry seib is with us behind the headlines. cheryl: coming up in tech

minute. you don't want to miss this one, a cow herding robot. that is coming up in "markets now." a moving hour. ashley: pun intended. robots taking over everything but not peter barnes. go to the fed with peter barnes. peter. >> watching stronger job creation before deciding to tapering $85 billion a month in the bond purchases. these are the minutes have the last fed policy meeting end of last october when it decided not to taper to continue the 85 billion a month in purchases. minutes say, quote, many members stressed the data dependent nature of the current asset purchase program and some pointed out if economic conditions warranted the committee could decide to slow the pace of purchases at one of its next few meetings but there had been little change in the economic outlook since the september meeting. the minutes continue on to say, quote, the limited pace of gains in wages and payrolls as well as

the number of employees working part time for economic reasons were mentioned as evidence of substantial remaining slack in the labor market. the drop in the unemployment rate over the past year could overstate the degree of improvement in labor market conditions the fomc members debated. in part that is in part because of the decline in the labor force participation rate which is something we've cover ad lot here on the network. one fed bank president saying today, james bullard of st. louis, that tapering was still on the table for the december meeting by the way. the minutes also show fed members struggling with how to communicate all of this to investors and consumers and whether to set new rules and guidelines for future policy decisions. they decided to continue to have those discussions at future meetings. the minutes report also by the way that the fed met by videoconference on october 16th to discuss contingency plans for financial markets in the event that congress and the white house did

not agree on a deal to raise the debt ceiling which congress an the white house did agree to that day, but the fed watching those financial markets for any potential disruptions. ashley and cheryl. cheryl: peter, i'm curious here. when you're going through the minutes if there seemed to be more of a discontent between members this time versus the last minutes statement that we got? we're hearing that from speeches we keep getting from these guys. >> remember that you have the members of the fed open market committee which are the policy members but then the broader group of folks in the room include, are called participants and that includes the non-voting members of the banks and several of those, charles plosser, richard fisher, and others are hawks and opponents of qe. so we've been hearing from them as much as some of the voting members. so, yeah, but they're really struggling with, you know, how to unwind, how to exit and how to communicate with this, and whether they should have rules,

well, we'll start tapering when the unemployment rate hits a certain percentage and things like that, so, but no decisions. ashley: no decisions. same as you are. peter barnes, thank you very much. we have a former fed insider here now to break down these fed minutes. he literally beat heavy traffic and here to talk to us. he managed the fed's purchase of agency mortgage-backed securities which was very centerpiece of the very first qe program. he has since apologized for that but we'll get into that for a minute, andrew. what we're hearing is more of the same. they say we need to do a better job or figure out a way to communicate this. it is all very scrambled right now. that's my impression. >> i think you have a institution first of all going through a leadership change. ashley: yep. >> i'm not really surprised there wouldn't be any substantial decisions made at this point in time and ultimately you have an economy that really hasn't improved dramatically. you have a little bit better

numbers in october but we're really talking about a chronically underperforming economy. at this pace it would take eight more years to get where we were precrisis in terms of employment and i think the fed feels if it is the only game in town and needs to keep pumping money into the banking sector. ashley: that said, andrew, when do you expect tapering even if it's in small increements? >> i think i, the conversation has been around march, april. ashley: right. >> it was december last time but i think the problem is the minute the fed opens up the possibility of a taper, that has much larger implication for the market and i think they're, after last summer where they spoke about a taper and you saw $5 trillion of equity destruction effectively, the fed's a bit skiddish where to go from here. ashley: even though we are reminded by many, oh, this is all baked in. the market knows they will have to start tapering at some point but, you're right, as soon as we start to talk seriously about

this issue the markets take a dive. >> we're seeing a very technical market where good news is leading bad stock performance and vice versa. there is real question here what happens next. ashley: let's get to the issue of qe itself. you think it has not worked? >> my arguement basically i think when it started in the fourth quarter of 2008, it was a viable tool. it was one more tool that the fed was using to try to get the economy back on track. we had two million jobs lost just in that fourth quarter alone but really there were two points to the program. one was the idea of helping stablize the banking sector. and the other one was really, which was the headline goal is the idea of getting more credit into the hand of the american consumer. ashley: right. and my point is, really that the first goal, went pretty well. we saw a deleveraging of the banking sector, some stability. reamly in the end there wasn't meaningful credit creation

afterwards. even after our original $1.7 trillion in bond purchases it was clear that qe was not having a knock-on effect to the economy talked about. yet we've got 2.5 interest dollars more. ashley: ashley: this money is sloshing around with major banks. what are they doing with it? are they concerned about new regulations. >> they're earning 25 on it for the year and -- ashley: really isn't the point. they should be passing this on. >> and this is kind of the world where we have six major banks in the u.s. financial system that basically have 7 0% of the assets and their business model down necessarily involve around

lending. ashley: no. >> they're doing substantial amount of trading,. we have a question how does this tool really work and what is it doing? kinsey came out with a report, companies have saved 700 approximately dollars in financing costs from qe which is fantastic, except it is like it is bumping up earnings and the companies are not turning around investing the money into the economy either. where is the trickle down? where is the beef? >> still waiting for it. andrew, very quickly i know we're running out of time, the ecb often thought about charging banks with that money with negative interest rate. is that something could be done or will never happen? >> they certainly can't do quantitative easing now because they can't buy domestic debt of countries. i worry the more we try to create these new tools more unanticipated costs we have, and so, ultimately this is a, this is structural story. this is about getting the underlying economy back on track

and doing real structural reform. ashley: andrew, thank you again for beating new york traffic. >> thank you for having me. cheryl: money-making part of it. take a look at shares of jcpenney. the stock's actually soaring on hopes of improving sales in the current quarter but that jump is coming after jcp fell short of analyst expectations in the third quarter. our twitter question, will penny survive even after christmas, right? tweet us. take the question to oppenheimer and company analyst, brian engel. this is a stock and a company itself nothing but abused and beaten up. probably a lot of snarky reporters out there but also by the street as well. do you think that jcp can actually turn things around in time for the holidays? >> well in time for the holidays is short amount of time. couple weeks basically. jcpenney reporting its third quarter results earlier this morning and pretty clear message in that report was, things are getting better at jcpenney.

i think the company has a long way to go in this turn-around. when he saw with sales trends improved off a very low base and gross margins which is real key metric here are starting to improve as they clear through old product. cheryl: what is interesting about the turnaround story here, this is after ron johnson of course, mike ullman is taking this personally. his heart is in the company. he wants to lead the company out of this. can they repair the damage ron johnson did to the company when he decided no more sales? which of course jcpenney customers live and die for? >> well i think the answer to the question over time, yes. we are seeing better traffic in the store. my team and i spend a lot of time walking through jcpenney stores. it is difficult to mesh specifically but we definitely see improved customer traffic thousand that jcpenney turned to more promotional or sales-driven stance. cheryl: you're seeing more customer traffic in channel checks now? >> we are, definitely. cheryl: what about the stores themselves? there is criticism about the space they have, that they are

not utilizing space correctly especially in the furniture department? are you seeing improvement there? we're getting different stories from analyst what is they're seeing physically in the stores. >> keep in mind when we visit stores we visit a few stores out of a chain more than a thousand and difficult to america sure but the stores look better now than they do a few months ago. there is not the construction going on there was a few months ago. they're better organized and signage is better. cheryl: long-term profitable growth, that is something mike ullman said in the statement. still when you look at revenue loss for the quarter, $500 million. at this point the stock would have to really recover very quick pace. to repay shareholder patience. time frame for that, brian? >> it's going to be a i w wouldo caught up in the sales numbers being down year on year. i think what is more important for the stock is the sequential trends. like i said before coming off a low base we're seeing a

sequential improvement month to month, quarter to quarter, at jcpenney. i think that will ultimately impress them cheryl and drive the stock higher. cheryl: the stock right now is, at levels that haven't been seen all year long. again i have to go back to the competition what you're seeing with jcpenney, what is happening with a lot of retailers for the holidays, competition from online components like amazon, walmart getting into the game, target, that customer that would walk into adjacent jays, what's to stop them from not going to amazon or choosing walmart to get the same merchandise? >> well that is interesting question. i don't know how much of a factor amazon is here for jcpenney. jcpenney is a unique customer. they do compete with walmart but i think jcpenney has an opportunity here to get back some of the customers they lost over the last year, year-and-a-half. there is low-hanging fruit if you will as they get the customers back to their stores. cheryl: don't care who they are but just spend the money at

jcpenney. brian nagel, thank you very much. ashley: once you lose them they are hard to get back, that's the problem. cheryl: ron johnson had a lot of missteps at jcpenney. ashley: yes he did. existing home sales slumping unfortunately for the second month in a row. we're live on the floor of the new york stock exchange with the fallout from home build years plus, i like him. "wall street journal's" jerry seib will be here. we'll go behind the scenes on his explosive interview, there it is, with president obama. ashley: jerry's intense look grilling the president. jeff flock is at the l.a. auto show talking with toyota's north american ceo. cheryl: first let's look at some of the big movers. he well, let's just look at oil. we're still below 94 bucks a barrel we'll be right back. ♪

[ bell ringing, applause ] five tech stocks with more than a 10%... change in after-market trading. ♪ all the tech stocks with a market cap... of at least 50 billion... are up on the day. 12 low-volume stocks... breaking into 52-week highs. six upcoming earnings plays... that recently gapped up. [ male announcer ] now the world is your trading floor. get real-time market scanning wherever you are with the mobile trader app. from td ameritrade.

ashley: quarter past the hour, time to check these markets. lauren simonetti at the nyse. market at session lows after the fed minutes. >> certainly down at session lows. nasdaq turned lower. s&p is down a quarter of a percent as well. for the nasdaq and the s&p we're looking at three days of losses in a row. i also want to take a look at

the homebuilders right now. raymond james upgraded several of them this morning. d.r. horton, kb home and lennar. if you look at the group you have three with up arrows and two with down arrows at the moment. back to you. ashley: lauren, thanks so much. we'll be back to you at the bottom of the hour. cheryl: as the markets continue to rally higher just not at this exact moment, you're looking to shut down high beta and high yielding investments. if that is the case, charles payne has etfs. >> you do? cheryl: yeah, they're great. >> i'm not necessarily an etf fan but i like this -- ashley: why not? why don't you like etfs? >> i'm a stock-picker. i like them better than mutual fund. i love them much better than mutual funds. but at end of the day i feel like prevent defense in football. you know how that works. first three quarters a team is throwing down the field. and winning 2-3. what do they do in the fourth quarter and they run and run and lose the game.

they have the best in the sector and worst in the sector and neutralizes each other. ashley: that is quite annalgy but i get it. >> you can see some of the high-flyers are pulling back big-time. bias may be shifting to the downside. you don't necessarily want to stay with big names that have made these huge moves. this might be a good sector for people. master limited partnerships. they have a special tax advantage. this one yielding 5.9%. it is not volatile. you know, pays strong cash. it's a way to have one foot in the market at the same time, you know, not necessarily have some of the risks, particularly if you're risk-averse. you can sense that people are extraordinarily nervous. ashley: at this price you like it? >> the price doesn't matter much. it trades in very narrow range. i will say it is up a lot more than it has been. this has been a really good year for it percentagewise.

remember the mlps took off after the crash. rich people wanted to put money somewhere and bonds start to get hit, if the stock market goes through a little bit after pullback, this will be a place for people to protect themselves. i really like it. cheryl: i like etfs in general, i'm not a great stock-picker. i will admit that. i should have bought google when they ipo'd but i didn't and i like etf strategy and gives more aggressive stance going with the s&p 500 which burned us. >> i with you 1,000 percent. if you don't want to dot homework, can't dot homework, do an etf long before mutual fund. people are sitting on profits, getting a little antsy, this might be a good place to park cash. cheryl: thanks, charles. >> it is not always making money with charles but protecting money with charles. ashley: very important. cheryl: you have a new series. >> maybe i will get a 2-dollar bill instead of one dollar. ashley: holding money with charles.

empire state building investors are hitting back. the attorney joins us with his case against people who took shares of the skyscraper public. cheryl: toyota making a big move at the l.a. auto show. jeff flock is there. jeff? >> you know that spongebob squarepants right there. yes, he is, in the back seat of a toyota highlander that has been turned into an aquarium with live fish nonetheless. i have the ceo of toyota who will explain it all when we come back. jim is ready. he is going to explain. he is ready. ♪

hmm. ♪ mm-hmm. [ engine revs ] ♪

[ male announcer ] oh what fun it is to ride. get the mercedes-benz on your wish list at the winter event going on now -- but hurry, the offer ends soon. [ santa ] ho, ho, ho! [ male announcer ] lease the 2014 glk350 for $419 a month at your local mercedes-benz dealer.

>> at 23 minutes past the hour i'm arthel neville with your fox news minute. president obama paid tribute to john f. kennedy today with a visit to the late president's gravesite at arlington national cemetery virginia. he was accompanied by the first lady, michelle obama and president and first lady, bill and hillary clinton. before that wreath-laying ceremony, president obama honored former president bill clinton with the presidential medal of freedom. this year's honorees included more than a dominant americans like television icon oprah

winfrey and the late astronaut sally ride. the medal of freedom was founded by president kennedy. "people" magazine named adam levine the sexiest man alive. a judge and coach on "the voice." he credits yoga and spinning keeping up his physique. those are the latest news on fox business network. cheryl: sexiest man alive, what do you think? >> he is cute but don't think i would put him that high up on the list. cheryl: would rather see george clooney again. thank you, arthel. toyota unveiling new fuel cells as the company's answer to auto emissions. jeff flock at the show with the future of what might be fueling up. jeff. >> jim's words and i have jim with me and that is the method to our madness having the car with the aquarium because hydrogen fuel cell cars, all

they emit is water, right? >> that is exactly right. >> jim, you drove one for how long? >> about six months. we put up. >> we put up numbers on hydrogen fuel cells can do, the one you introduced in tokyo and u.s. will be 2015. >> 2015 is first available to the public, four-passenger car, hydrogen fuel cell. >> and you told me just a moment ago, you said, i can't figure out what the consumer is going to embrace, but, that is got to be the ultimate great solution to fuel emissions? >> i think it always been the holy grail not only for emissions but at some point in time we will reach peak oil. tough to tell today with the shale boom but it will take place. it will be a source of energy for the united states and for vehicles. >> i want to walk you over to the tacoma because next hour on fox business we'll have mark royce and the folks at gm who are introducing a guy to compete with this as you know, your american colleagues have largely dumped out of this market. this is the smaller pickup

market. this is the toyota coma. not the big tundra which is that guy over there. tom, as you spin around to your right, that is the tundra over there. that is the big one. they left this all to you. are you worryed? >> i'm not worried. right today we have 56% market share with this truck. >> incredible. like model t. >> it is. we have a lot of very, very loyal owners. but quite frankly we would like to see competition because competition gets interested in particular segments. and as a result, i think we'll be able to even sell more tacoma trucks all built here in north america by the way. >> there is more interest in the smaller truck, might be way things go. better fuel economy. some people don't need a huge truck. we'll ask mark royce with that. want to leave you with the sales figures. they have been through incredible stuff. look at world sales figures now, autos are back in first place. toyota largely thanks to jim

lintz and your operation here in the u.s. >> we'll be little over 2.25 million this year. it has been a good year. >> jim lintz live on the fox business network at the l.a. auto show. even when you don't have anything to introduce it is exciteing. >> it is always exciting. >> he is great interview. give him our best. jeff, thank you very much. ashley: we have stock alert for you, watching shares of priceline hitting new 52-week high after the was added to goldman sachs conviction buy list. the bank is also hiking their price target for priceline to $1500 from the 1260 bucks feeling the company is in a position to benefit from a european recovery although it is being very slow and growth in mobile traffic. but all pointing higher for priceline.com. less than 24 hours ago he sat down for an exclusive interview with president obama and now he's here. he has got the laser eye on the

president there. "wall street journal" warn washington bureau chief jerry seib takes us behind the headlines. cheryl: the president was a little nervous with jerry. lowe's, we'll see how the earnings will affect the home fix-it sector. ashley: move along little doggies. that was awful. coming up in tech minute, a robot, actually a robot that will replace dogs to herd cattle. it is great stuff. don't go away. what's better than zero heartburn?

♪ nothing, that's what? that's why i take prilosec otc each morning for my frequent heartburn. 'cause it gives me a big fat zero heartburn. woo hoo! [ male announcer ] prilosec otc. the number one doctor recommended

frequent heartburn medicine for 8 straight years. [ larry ] you can't beat zero heartburn. and best of all, it means i can enjoy all the foods i love. oh, zero heartburn is awesome. just like zero clery. ♪ [ male announcer ] prilosec otc. one pill each morning. 24 hours. zero heartburn. [ male announcer ] prilosec otc. my dna...s me. every piece is important... this part... makes my eyes blue... i might have an increased risk of heart disease... gallstones... hemochromatosis... i'll look into that. the more you know about your dna, the more you know about yourself... now i know. know more about your health. go to 23andme.com and order your dna kit for only 99 dollars today. learn hundreds of things about your health at 23andme.com

close evenly split on the upside microsoft today

downside is going and caterpillar in jpmorgan. now back to the @foxbusiness.com with lauren simoneti with the homebuilders? >> not very good the to the reported stables and smokers both are down and because of forays of sales. staples is the largest office retailer in the united states and smackers makes filters and other things but coffee prices are lawyer with the price cut him in february but not improving sales. lowe's some improvement is down the number to loser on the sp503 the alex is why it is down that and feels a

focus the ceo said and i quote back it is poised. this quarter and further acceleration in the next fiscal year is not bad but we are interpreting it as bad news compared to home depot yesterday. >> big deal. with less than 24 hours ago the washington bureau chief terry sides sat down with an exclusive interview with president obama. >> you will not be stunned i will ask about health care first. you indicated clearly the role law has been difficult. what have you learned from this experience about government's ability to do this or the law itself leona administration in it? >> there are a couple of things. number one this has been a big problem for a very long time. believes the challenging not

only to pass but to implement. >> great to see your purview have interfered -- interview the president before but is he different or more of the defense did in the past? >> he is in a tough spot right now no secret about that he knows that and has talked about it in the poll numbers show that a and key has a different challenge now than he ever had before. i don't think that they thoughtlessness would be that period endlessly talking about it but i found it interesting he wanted to3 come to this group when hundred blue-chip ceos we gather every year. not an audience that is especially friendly traditionally but where he has ability to make inroads why he was there, they are no happier about the way the health care rollout is going the other issues are they do

see some common ground with the immigration reform of roomful of ceos and education reform is at the top of the wish list they want a better educated work force that nobody has talked about a fair amount and the ceos or the shutdown or the tea party will so they see more money dash more available so it seemed like a different time to come to the group. cheryl: and annual conference it is prestigious group but those conversations behind the scenes? even if off the record to see how they really feel to come here to say it was a waste of my times? did you pick up on that yesterday? >> yes. that is the rap that they don't fall of reach why the president wanted to be there

to spend a full offer not just gives a speech to leave but take some questions in detail. but the ceos have a view of washington that is not much stiffer mothers to say what is wrong with these people? they include the white house as well as congress and to be reassured that we would not go through early next year what we went through in october and the president won in some districts -- distance to assure him but so did albright and. cheryl: he cannot do that. he cannot promise that. >> but they cross the threshold and nobody wants to go down that path again. >> did anybody discuss that corporate tax rate? >> good question. it comes up every meeting you have with the ceo.

he said it essentially is a problem for every body recognizes they need to fix the corporate tax rate the politics are complicated is it corporate tax rate reduction to reduce the federal government overall revenue or revenue neutral and as the president said it gets sticky because one man's loophole is another justifiable tax credit that is why it is tough if you look at the tax rate will you open a path for repatriation? it is complicated and. what i find out is everybody agrees the system does not work it does not seem to change but that conversation goes that way. cheryl: thank you for being with us we will read about

in "the wall street journal." thank you. >> happy to be with you. ashley: rejected major telecom providers at&t and three -- rise and have an anti-theft measure when reported lost or stolen. the kill switch from the attorney-general says the carriers are resisting the feature as they continue to shake down customers for billions of insurance claims 2.6 million were victims of smart phone the theft. the game kaffir the iphone and the right touch will be under the december. with the directional pad with four main pad and the pause button will work with 300 games, lover it will not work with the newest i phone

five because that model is just a bit smaller it is not planning to make a comparable device for android despite google's offer for support. cowherd being robots? researchers have created robots a device to move cattle he moves in a steady manner the researchers were surprised by how unfazed the cows were and how, a the process went it went to those already used to monitor on farms apparently needs a human to operated but they hope that the future version camby fault -- fully automated as will the cows eventually. [laughter] cheryl: those cows our pretty mellow and maybe not the smartest. [laughter]

the empire state building striking back they will be joining us with his case against the people who sold shares to the skyscraper public why could this be coming to a retailer near you? stick around. [ grandma ] with n fedex one rate, i could ll a box and ship it r one flat rate. so i kn untilt was full. you'd be crazy not to. is tt nana? [ male announcer ] fedex one rate. simple, flat rate shipping with the reliability of fedex. pop in the drum of any machine... ♪ ...to wash any size load. it dissolves in any temperature, even cold. tideod pop in. stand out.

ashley: fox business brief shares of verbalized moving

higher after charlie gasparino reported play a role with a leveraged buyout. this is a state investment firm and ceo of post holdings holding a stake and herbalife. hellebores international says it will sell its own electronic cigarette by the second half of next year battery powered devices that put nicotine into the breathable vapor. increasing stockpiles in september by 0.6% the commerce department's is the largest increase since january inventory increase was up 0.4%. this is the latest from fox business, giving you the power to prosper.

march or earlier that will be janetelellen next year we will continue to watch the markets. ashley: people don't want to buy a piece of the iconic empire state building since it went public it is trading below expectations and that is frustrating many of the original investors. our next guest represented two of the company's two long dash 212 to buy the building before the ipo. jason, a thank you for being here.

julia the store you say the original investors of the empire state building were misled into believing a public company into the real-estate investment trust they will get more bang for their bucks but you say it was very misleading now with the ipo is not trading where expected? >> correct. the stock is trading at $13 per share. these investors were completely misled told the exchange value for the reit would be $323,000 per unit but it turns out there getting a $223,000 that is $100,000 less than what they ever told from the reach -- from the reach it is davis come -- misconception that look at president obama aig guarantees the american people can keep their health

insurance policies under obamacare it goes into effect millions of americans get cancellation policies. people do not want to be misled if you tell them you one thing you deliver. ashley: what do what the outcome to be? >> what the lawyers that represent is to prove that the $100 forced a buyout, the vote to allow the reit to go through was of'' coerced can these people were plucked a gun to their head and told you have to vote in favor wide reality people were told they would get bought out at $100 vs 300,000. ashley: there is a big offer to buy the structure? >> correct. ashley: that would have generated a much better offer. >> i made offers well above

$2 billion, a 2.$2 billion investors would have received $300 million more than what it trades at now. ashley: this is not a case that we will get more money on this and then theyry foul? you see there is more to it? >> it is not right to tell people they get 323,000 when they will not. even of $15 per share they were not. the stock market is overheated right now with the debt ceiling crisis these people sold one of the most iconic buildings in the world any corner people know the empire state building if you wrote them the postcard it would end up there an a matter where you are. ashley: we wish you the best of luck. we will continue to follow.

thinks for being here we appreciate it. cheryl: now time for stocks at the new york stock exchange where a lot is going on it seems equity investors are watching the ted year treasury after the fomc minutes? that conversation was certainly more active about tapering. >> it was but i am concerned by the market reaction. i eighth looked over the minutes quickly by did not see anything that was signalling to me they would taper in december. listen to a soon to be terry allen she was adamant she will keep the policy as is. i think the shorts try to get ahead of themselves every time they get that they may be berndt the move is not dramatic but i still hold the line it will cut in

march if ever. cheryl: i think they would have to taper at some point but it is her game to play but she'll have to come in to continue the policies but now there is us to debate what data they will judge upon? >> chairman bernanke chastise the market when he said essentially i told you it is data dependent. that is why we are not tapering and tells of a number end janet yellen said the same thing and she is confirmed the first week of december. i would not be betting against the fed they will taper from this. we will see what happens especially with the budget battle. cheryl: interesting with the market say. >> there is nothing that screams tapering but the

market is just not reacting that great. cheryl: and fashion shows for men? >> trying to appeal to you guys other than sports. may be. stick around.

ashley: cable make overturns a fashion channel into the men's and their work to pass bike tv dennis kneale is looking into the details. >> comcast nbc universal in the timber scrapped the style 10 of his audience was 80 percent female to remake into the "esquire" network to consider the results have

been startling good progress offers a lesson how easy it is for cable niche to gained viewers but how hard for broadcast to hold onto what they have got. the local cable systems and callable at one daschle cable channels, undergoing a sexual change operation now is 60 percent men and a number of men watching under age 50 has doubled in two months last night was a new high point for the network the premiere of to workmates to undergo physical training then beat each other's brains out ever want to punch a co-worker in the face? serving up more violence with the upscale 13 audience bennett if it is unabashedly sexist -- sexist filled with the bill press. i watched it last night

because it is my job a show called women real love of the one surfer who is 21 years old thursday and she is in the helpful hint shows a woman from -- you ridges from bet to fold a pocket square you will not see that espn. [laughter] ashley: how do i find out how to fold the pockets where? you have might interest. [laughter] >> now i wwnt to wear one. ashley: ebay plans a big expect -- expansion was shopping technology detachable screens coming not shoppers can browse products and by them by entering a phone number then to complete the transaction to the smart phone the commerce giant is taking part and they have agreed to

pay ebay and this pate for clap model is seen in brick and mortar but allows retailers to get its site into the behavior of their customers. cheryl: we'll have much more with market reaction and to sit down with the chinese civil provider and ask about his projections with the research firm muddy waters that claims the company is a shame. stay with fox business. tdd# 1-800-345-2550 searching for trade ideas that spark youruriosity tdd# 1-800-345-2550 can take you in many directions. tdd# 1-800-345-2550 you read this. watch that. tdd# 1-800-345-2550 yolook for what's next. tdd# 1-800-345-2550 atchwab, we can help turn inspiration into action tdd# 1-800-345-2550 boost your trading iq with t help of d# 1-800-345-2550 our live online workshops tdd# 1-800-345-2550 like identifying market trends. tdd# 1-800-345-2550 now, earn 300 commission-free online trades.

call 1-888-628-7118 or go to schwab.com/trading to learn how. tdd#-800-345-2550 sharpen your instincts with market insight from schwab tdd# 1-800-345-2550 experts like liz ann sonders and randy frederick. tdd# 1-800-345-2550 get support and ta through your ideas with our tdd#-800-345-2550 trading spialists. tdd# 1-8-345-2550 all with no trade minimum. and only $8.95 a trade. tdd# 1-800-345-2550 open an account anrn 300 commission-free online trades. call 1-888-628-7118 to learn more. so you can take charge of your tradg.

liz: good afternoon, everybody, i am liz claman. this is the last hour of trading after being off most of the day

the dow jones industrial average turned negative just after the federal reserve minutes from the most recent meeting were released. you can check out this chart, pretty steep drop just after 2:00 p.m. eastern trying to climb back but barely. a similar story with the s&p 500. flip it over to that, up for most of the day until 2:00 p.m. eastern when the fed and its to make a mac minutes were released. and at that meeting while they voted 9-1 to keep the bond purchases bi spigot open full blast, there was question questo what they were really talking about. look at why the market reacted the way it did. up 49 points. peter barnes has been going over the fed minutes with a fine tooth comb. lauren simonetti with the trader reaction.